Clubbing various Classes

I have a set of classes for common functionalities that I include in almost every project I execute. These are the classes with common functionalities like Date validations, keypress validations etc.

I would like to create a DLL with all these classes in it so that I shall only refer to that DLL.

I want to know implications of two things:
1. What will happen if I make some changes to this DLL by modifying existing classes or add new classes to it. I do not understand the versioning effect that's why I am asking this question.

2. Is it a good idea to create a DLL like this or there are some better options?

Hi Sethi:
It is quite easy actually.
I assume you are referring to VB6 here.

The important fact to take care of is to compile the DLL with Version Compatibility set to Binary.
This means that VB will not let you make changes to your DLL that might not be "Backwards" compatible with a previous version.

For debugging purposes, you can load the DLL project in the same group as the project that is using your utilities.
(Use Add Project.. from the file menu)

Sethi:
You are right.
Your DLL does not have to reside in System32 (It can)
When you set the binary compatibility you are prompted to the exact place where the dll lives.

So after your first 2 days, you just compile to the right place (by compiling I suppose File->Make MyDLL.DLL is meant)
Any program using this DLL will not be affected, since you only added new classes to it.

After the next 2 days, you try to lets say add another parameter to one of your functions. This would cause a compatibility issue. You will get a message explaining why the compilation does not work. You have the option of breaking the compatibility, or rewriting your code.

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